A Revenue Management Consultant | Get the Essay

Case StudyYou have been appointed as a Revenue Management consultant team to the Schloss Hotel on financial and income optimization matters.The following information has been provided to enable you to address all requirements that appear on the relevant sections of this case study.Terms and DefinitionsAverage Daily Rate (ADR) – A measure of the average rate paid for rooms sold, calculated by dividing room revenue by rooms sold.Competitive Set (Comp Set) – A peer group of hotels that competes for business and is selected to benchmark the subject property’s performance.Contract Rooms – A consistent block of rooms committed at stipulated contract rates for an extended period over 30 days with payment guaranteed regardless of use, such as for airline crews and permanent guests.Demand – The number of rooms sold in a specified time period (excludes complimentary rooms).Food & Beverage (F&B) Revenue – Revenue derived from the sale of food, beverage and non-consumable goods and services sold by a property’s food and beverage department.Group Rooms – Typically defined as 10 or more rooms per night, sold pursuant to a signed agreement.Percent Change (% Chg.) – The amount of growth – positive, negative, or flat – expressed as a percentage comparing a period versus the same period last year. Calculated as ((This Year — Last Year)/Last Year)*100Transient Rooms – Includes rooms sold to individuals or groups occupying less than 10 rooms per night.Owners BriefWelcome to our hotel. The Hotel is in Berlin near the Potsdamer Platz business district.Competition and Trends InformationA complete set of STR reports have been attached to this case study in order to provide information about our competitive set and regional relevant statistics.Property DescriptionMarket Profile? Market Image: Unpretentious luxury and charm, integrating the best in technology and comfort.? Newly build (7 years old)? Full service ? City Center ? Luxury class? Servicing Transient, group, contract? Very similar footprint, facilities, and services compared to competitive set. FACILITIES? 260 guest rooms ? Two restaurants – 350 seats in total with adjoining 50-seat bar lounge section ? One fitness- exercise room? One business center? Indoors swimming pool and outdoor recreational area.SERVICES? Car parking (for a fee)? Digital national and international telephone service? Guest laundry and dry cleaning? Guest room digital entertainment? Room Service? Free Wi-FiArea RatesLast Years ADR and RevPAR Summary related to our competitors can be found on the attached STR reports. Our hotel’s ADR Summary is shown on the table. All amounts in local currencyDate ADRTransient Group ContractJan 17 186.87 169.65 183.57Feb 17 225.55 281.64 237.97Mar 17 222.10 229.98 198.9717 186.90 190.33 99.85May 17 221.30 215.44 180.07Jun 17 214.71 242.42 251.51Jul 17 214.33 174.42 126.74Aug 17 180.28 155.16 93.95Sep 17 240.36 246.52 269.78Oct 17 221.70 228.66 265.86Nov 17 240.78 198.62 197.93Dec 17 228.10 219.35 272.90Jan 18 183.46 177.29 112.75Feb 18 219.42 297.90 257.49Mar 18 212.63 198.89 158.56Apr 18 217.91 209.11 119.57May 18 224.35 202.30 162.99Jun 18 218.67 253.84 268.07Jul 18 215.76 155.41 102.04Aug 18 195.52 195.23 144.04Sep 18 264.87 271.76 307.64Oct 18 245.16 259.51 315.22Nov 18 249.32 199.14 198.71Dec 18 240.50 198.64 237.69Jan 19 193.32 179.89 115.87Feb 19 238.50 279.44 235.33Mar 19 224.05 213.58 177.66Apr 19 198.65 210.14 120.65May 19 228.24 229.55 198.42Jun 19 216.97 243.80 253.51Jul 19 204.77 144.03 87.23Aug 19 186.97 155.12 93.90Sep 19 260.84 254.46 281.69Oct 19 238.62 236.10 277.75Nov 19 254.22 203.27 204.91Dec 19 250.00 202.23 243.80Jan 20 203.49 197.38 136.86Feb 20 264.62 281.91 238.29Mar 20 281.18 303.85 295.01Apr 20 249.95 0.00 183.71May 20 251.35 0.00 198.89Jun 20 195.87 194.25 181.66Jul 20 222.54 235.29 205.88Aug 20 191.68 217.19 171.49Past Demand Data by Market Segment Mix and MonthThe following two tables provide the number of rooms occupied by the various segments. The information is provided on a monthly basis and covers the years January 2017 to August 2020. Date OccTransient Group Contract TotalJan 17 40.7 12.5 1.2 54.5Feb 17 54.6 15.5 2.3 72.4Mar 17 48.0 21.3 3.2 72.5Apr 17 51.4 17.1 2.1 70.6May 17 41.8 30.4 3.2 75.4Jun 17 45.1 28.3 5.0 78.4Jul 17 49.9 16.0 3.5 69.4Aug 17 51.2 15.3 4.2 70.8Sep 17 44.6 31.6 2.3 78.5Oct 17 49.6 21.6 3.2 74.517 44.0 21.9 3.4 69.3Dec 17 50.3 7.6 2.1 60.0Jan 18 40.9 13.2 1.3 55.4Feb 18 48.5 17.6 2.4 68.5Mar 18 52.8 14.9 3.3 71.0Apr 18 40.3 29.4 2.2 71.8May 18 42.3 25.4 3.5 71.3Jun 18 44.7 31.5 5.8 82.0Jul 18 50.0 16.8 3.7 70.5Aug 18 55.0 18.0 4.6 77.5Sep 18 49.7 29.4 2.3 81.5Oct 18 45.8 24.9 3.5 74.2Nov 18 45.0 23.5 3.4 72.0Dec 18 49.8 11.8 2.4 64.0Jan 19 40.9 13.8 1.4 56.1Feb 19 47.5 17.6 2.5 67.7Mar 19 50.4 18.5 3.5 72.4Apr 19 47.2 24.9 2.2 74.3May 19 44.0 29.6 3.9 77.5Jun 19 46.3 31.3 6.6 84.2Jul 19 52.4 13.2 4.0 69.7Aug 19 58.1 16.5 5.0 79.6Sep 19 49.7 30.9 2.4 83.0Oct 19 52.3 24.1 3.8 80.2Nov 19 47.7 26.0 3.5 77.1Dec 19 53.3 12.4 2.6 68.3Jan 20 44.2 15.1 1.6 60.8Feb 20 48.1 18.1 2.7 68.8Mar 20 14.8 1.5 3.6 19.9Apr 20 3.4 0.0 2.3 5.7May 20 5.9 0.0 4.3 10.1Jun 20 13.9 0.6 7.6 22.0Jul 20 23.0 2.2 4.3 29.4Aug 20 29.9 2.9 5.4 38.2Area Occupancies and Market SegmentationCompetitive set occupancies and market segmentation data can be found on the attached STR reports.Last Year’s Channel Demand and Transaction CostsDemand per channel is expected to follow the same pattern as last year:Channel Demand (%) Direct GDS OTAWhole Sale Transients 40 30 30 0Groups 35 15 15 35Contract 40 20 0 40The estimated marginal costs for this year are:Transaction Costs Direct GDS OTA Whole Sale Per Room Night 0 35 55 25Gross Price Points and LimitsThe following price limits are expected for the next twelve months. The best rate strategy is the one that produces the highest departmental profit. Generally, higher rates reduce occupancy but increases profit, but only to a point. When rates approach the price point limit in the market, occupancy can drop dramatically to the point that profit is severely affected. There would probably be no occupancy at the price limit unless there is an extraordinary event taking place. All amounts in local currency.Segments PriceLIMITTransients 380Groups 310Contract 300The following tables show the caption ratio % per segment that use our F&B facilities for breakfast, lunch and dinner:BreakfastRoomType Caption ratio percentage Average customers per roomTransients 66% 2Contract 55% 1.5Groups 65% 2.5RoomType Caption ratio percentage Average customers per roomTransients 28% 2Contract 43% 1.5Groups 41% 2.5DinnerRoomType Caption ratio percentage Average customers per roomTransients 20% 2Contract 32% 1.5Groups 60% 2.5REQUIREMENTS:The following key performance indicators (KPI) should be covered at various sections of your report. 1. Critically review important market developments and identify possible impacts that they might had or have on the hotel performance (25%).2. Compare the STR data in regard to ADR, RevPAR and Occupancy percentages and comment on similarities and differences (5%). 3. Compare the STR data in regard to segmentation mix with your hotel’s and comment on similarities and differences (5%).4. Perform data decomposition and prepare seasonally adjusted data for all market segments (10%).5. Forecast anticipated Rooms demand for twelve months, under optimistic, most likely and pessimistic scenario (Jan 2021-December 2021) by using a least two non-causal forecasting methods (5%).6. Compare the optimal price for each segment with the latest rates charged by your hotel and comment on your findings (5%).7. Use the optimal price findings and estimate expected demand for twelve months, under optimistic, most likely and pessimistic scenario (Jan 2021-December 2021) (5%). 8. Use the emsr-b heuristic and estimate expected demand for twelve months, under optimistic, most likely and pessimistic scenario (Jan 2021-December 2021) (10%). 9. Compare the estimated demand from the non-causal forecasting, emsr-b and the optimal priceapproach and discuss possible reasons for their variations (5%). 10. Propose the optimal segment mix in order to maximise Rooms’ revenue (5%).11. Provide suggestions for middle (2-3 years) and long-term (5 years) strategies and directions by using quantitative and qualitative data (10%).12. Presentation of written work. The final report and excel spreadsheet are well written, reflects accurate proof reading with no grammatical, syntactic, spelling or typographical errors, style of writing is consistent throughout and the report represents a coherent, integrated and holistic paper (10%).

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